Kuwait-based mobile telecommunications company Zain Group has won the World Finance ‘Best Corporate Governance Award 2021’ for the region.
World Finance is a print and online magazine that covers the financial industry, international business, and the global economy in depth. The annual World Finance Awards select and examine some of the most diverse and succinct governance platforms and recognize pioneering firms in this important area.
Zain has implemented an effective Investor Relations and Corporate Governance Framework that improves the company’s overall governance environment following applicable laws, regulations, and best practices.
Furthermore, the company looks to exceed the requirements of the Corporate Governance Regulations issued by the Capital Markets Authority in Kuwait, Boursa Kuwait, the Ministry of Commerce and Industry, and other regulatory bodies.
Bader Al Kharafi Vice-Chairman & Group CEO Zain
“We are proud of the standards we set with respect to corporate governance and integrity. From the publication of our annual and sustainability reports to our regulatory disclosures as well as operational and financial results reporting, we are guided by a desire to offer all our stakeholders the most transparent access to our information possible. The proactiveness and innovative policies of the Capital Markets Authority, Boursa Kuwait, Ministry of Commerce and Industry, and other regulatory bodies in Kuwait drive us to be a more agile and responsible organization and we remain motivated to raise the bar even higher with respect to good governance and accountability.”
Zain’s corporate governance framework helps the firm to mitigate risks and facilitates an effective board oversight over the company’s executive management by monitoring the implementation of policies when running daily operations.
Corporate governance encourages robust internal controls to enhance financial integrity and fosters a compliance culture. Further, this governance structure has also aided Zain in gaining market trust and attracting international investment.
This ‘Best Corporate Governance Award 2021’ award follows the winning of awards in three categories at the annual Global Good Governance Awards 2021: Best of the Best in Diversity Award 2021; Leadership in Sustainability Award 2021; and Championship Award in Women Empowerment 2021.
